Advertisement
Sunday, Nov 28, 2021
Outlook.com
Reliance Industries Ltd 17 in 1994

Kingmaker’s Sceptre

Kingmaker’s Sceptre
Napolstockimage
Kingmaker’s Sceptre
outlookindia.com
-0001-11-30T00:00:00+05:53

By the time it was 17 in 1994, the House of Ambani was at the pinnacle of its power. In terms of corporate clout, the group’s flagship, Reliance Industries Ltd (RIL), which went public in 1977 though it was privately held for several years, was feared by competitors. RIL’s patriarch, the late Dhirubhai Ambani, could make or break governments. Investors loved the scrip. And the company was on its way to becoming the largest (in terms of revenues and profits) in India.

Dhirubhai’s penchant for business vengeance was legendary. He never forgot an insult. In the 1970s, he met Kapal Mehra’s father, the founder of Orkay Silk Mills, one of the fastest growing textile firms, for tips to set up a dyeing unit. The senior Mehra flexed his biceps and said, “You need to mix blood with chemicals to make dyes. You can’t do it.” Dhirubhai vowed to destroy Orkay. By 1994, Kapal Mehra, who had once desired to become what Ambani became, was practically on the streets.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Omicron: New Strain Of Coronavirus Escalates Need For Global Vaccine Sharing

Omicron: New Strain Of Coronavirus Escalates Need For Global Vaccine Sharing

'Despite the repeated warnings of health leaders, our failure to put vaccines into the arms of people in the developing world is now coming back to haunt us', wrote former British PM Gordon Brown.

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Though the health experts and scientists in India have advised caution yet they feel that the current immune profile of the majority of the population in India makes them less vulnerable to Omicron as compared to any other country in the world.

1st Test, Day 4 Live: IND Declare, Set 284-run Target For NZ

1st Test, Day 4 Live: IND Declare, Set 284-run Target For NZ

The first India vs New Zealand Test is delicately poised with both teams having an opportunity to force a decision. Follow here live cricket scores and updates of IND vs NZ on Day 4.

What Is Omicron: All You Need To Know About The New Coronavirus Strain

What Is Omicron: All You Need To Know About The New Coronavirus Strain

After the detrimental Delta variant which took the world by storm in the second wave of Covid-19, WHO recently declared ‘Omicron’ as the latest ‘variant of concern’ (VOC).

Advertisement